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Kids are accustomed to learning all kinds of things from us. Our habits, the way we order our food, our favorite movies.

Whether we like it or not, they are watching!

We can either chose to be intentional with the lessons we teach them, or let them observe and just pick up whatever we are doing.

The easiest way to incorporate life lessons is to live them out in front of your kids and involve them in your everyday life activities.

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Here are 10 fun and easy ways to teach your kids to not only save and spend money – but to value it.

  1. Take them Grocery Shopping – teach them along the way and make sure to point out things like sales and coupons – add up your savings at the end of the shopping trip
  2. Bring Them With You to the Bank – explain how a paycheck is deposited, and how many hours you worked for that check
  3. Give them “Play” Money to Trade in for Purchases – like a mini envelope system, this will help them understand what it means to “save now” for something later on
  4. Set up a Lemonade Stand in the Neighborhood – kids love to do these type of “jobs” and will learn a valuable lesson in the process – what it means to actually earn money! Feel free to help but let them do their thing and you will be surprised at the result
  5. Make a Fake “Budget” – similar to a budgeting game, let them decide where the money goes each month. Give them categories and let them decide the amounts. At the end, talk about it together and how you could change certain amounts to save more.
  6. Clip Coupons – involve your kids in the savings process. Have them search through store ads to find the best deals on the items you need. Since most ads are all pictures, even the little ones can help with this activity!
  7. Play Games as a Family – games like Monopoly and Settlers of Catan involve money-reasoning skills. While this might be for the older children, younger ones will love to watch!
  8. Teach them to Turn Off Lights – a simple, but easy way to remind your kids to always be saving on electricity! Whenever you leave a room ask them, “Did you turn off your light?”
  9. Budget for Gifts – When gift giving season arrives, make sure to set a specific budget for your child to follow in buying for friends and family. This will teach them the skill of dividing out money and staying within their “means”.
  10. Always ask Questions – When your child wants to spend money on something always be asking them the important questions — 

“Why do you want to spend your money on that?”

“Are you ok with buying that now, and nothing for the rest of the month?” 

“Will this item last you very long?” 

At times it will feel silly to “reason” through these things, but you are planting the seeds that will help them make all of their future budgeting decisions.

What are some ways that you help your kids see the value of a dollar? Drop a comment below, we would love to hear from you!

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10 Ways to Teach Your Kids the Value of a Dollar
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